Monday, April 16, 2012

Cronyism in ObamaLand


Under the guise of "investing" in so-called green energy, the Obama Administration is perpetrating yet another massive scam on the American people. It has now been documented that Obama is using your hard-earned tax dollars to line the pockets of his biggest campaign donors.

But don't take our word for it...

According to research done by Hoover Institution Fellow Peter Schweitzer, the hundreds of millions of dollars in taxpayer-backed loans handed to Solyndra - the now bankrupt company that was run by Obama campaign bundler George Kaiser - is just the "tip of the iceberg."

In fact, a staggering 80% of the federal grants and loan guarantees made to green-tech firms by Obama's DOE since 2009 were made to companies whose chief executive or chief investors were major contributors and big money men to Obama's 2008 presidential campaign.

Schweitzer's research reveals a devastating picture of corruption in Washington, D.C. Democrats, Republicans, Congressmen, Senators, administration officials and bureaucrats - the corruption is widespread.

Billions upon billions of dollars literally have poured into the coffers of Obama's biggest campaign donors whose quasi-green products, like bankrupt Solyndra's solar panels or the exploding Finnish eco-car, were not only questionable, but very clearly doomed to failure from the beginning.

Given the number of reports warning the Obama Administration against many of the "green" loans and government handouts, it is now obvious that the money transfers were never meant to rescue the American economy or create jobs...  

Rather, the program from the very beginning was about nothing more than lining the pockets of loyal Obama supporters.

Even the non-partisan Government Accountability Office (GAO) has chastised the Obama Administration for the manner in which DOE loans and handouts were granted. According to GAO:
  • Many of the loans lacked adequate documentation and performance measures.
  • Obama's DOE granted many loans based on favoritism while denying or disadvantaging other equally and often more qualified potential borrowers.
And DOE's own inspector general, Gregory Friedman, has testified that many of the contracts have been steered to "friends and family."
Yet despite all this, Barack Obama wants to double down on the program. In fact, Obama's Department of Energy has announced its intention to issue even more "green energy" loans. How many major Obama 2012 donors do you think will be on the receiving end of those new loans and grants?

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